Is KYC really a good thing?

[gunhell16]

Well, KYC is good especially when the project has proven beyond reasonable doubts to be successful. It is a requirement that has been implemented by the authorities of many countries in other to eliminate the issue of money laundering and the funding of terrorists. Anyway, investors must do an intense study into the project to ascertain that their identities will be protected and be used for only verification purposes as stated by the KYC rules.

In my own little way, KYC must suppose to be applicable only for the investors who will join in every project ico.
But for the bounty hunters, it shouldn't apply, because they're the main reason why the project become successful most of the time.

[Hometown]

Some illegal projects ask kyc which is very much dangerous and risky. A few days ago CLIPX project ask kyc from investors and bounty Hunters. We all provided our personal information and database but alas they flewed away from website and all others social networks media. I think kyc is very dangerous.

[shadowdio]

Well it's okay for me requiring kyc those investors but in the bounty campaign I'm not okay requiring kyc because we just earn a little reward, the allocation for bounty is just small you know.

[Jaephoenix]

KYC is important to weed out scammers and thieves. That being said, a lot of scammy projects like ClipX recently now steal bounty hunter's identities for dubious means

[labonikhatun]

I don't think kyc is as good as it is now with more scams through kyc and the quality of bounty campaigns is declining a lot by doing kyc they use our personal information for other purposes in which case it is better for all of us to stay away from kyc. This will reduce the number of scammers there will be no barriers to transactions.

[lepbagong]

I don't think kyc is as good as it is now with more scams through kyc and the quality of bounty campaigns is declining a lot by doing kyc they use our personal information for other purposes in which case it is better for all of us to stay away from kyc. This will reduce the number of scammers there will be no barriers to transactions.

From the first time Kyc began to be applied, many had no sympathy because it was too open to take people's data without us knowing who needed it and for what, but the development was that Kyc was widely used by those who were looking for profit because many did not want to participate if there was Kyc but at the beginning it was not said But when the end of the project was compulsory Kyc were so many resigned and that was the opportunity they were looking for.
for now it is not recommended to join the bounty if it requires kyc because now there are many fraudulent bounties.

[Rafiq]

I think KYC is a really good thing; However, that does not apply to bounty hunters. Bounty hunters work on the promotion of the project for a very short time, they sell the tokens as a reward. But I think it is really important for investors to have KYC, because they will keep their assets there for a long time; It has requirements to protect their assets.

[TERMINO]

KYC Process is not 100℅ safe. Because somehow, your identity is vulnerable to use by unknown person. You are completely incontrolled of your identification once submitted to unreliable one. However, if the project promise the security and they are really honest to their words. I think, we should try the process so that they will know who we are and where we come from.

[Fivestar4everMVP]

Kyc is good if am asked, but it depends on who we are sending this personal files and data to, it helps to prevent fraud but we must be very watchful as to who we send and how this documents are stored and managed

[Tnoy30]

In order to develop any project and increase the popularity of the project, people have to believe that the project is good. Different types of documents are needed to prove it. As I think kyc is one of them. Because any project has rules for kyc, then that project people believe more. Because if the national identity card is given in the data entries. Then people are able to believe that real company. So I think the issue is good for the development of any project.

[Michael.sol]

Kyc is really helpful to avoid spamming as well their is low amount of error we see in tokens sale as well as in other activities .
Recently a project named ( relevant ) they offer a good coin Via airdop but alot of user make fake account ( even more than 10 ) . If they implement kyc process then their will not any problems like this.
Sow kyc having its advantages as well disadvantages also .

[Bobcrypto]

Yes. KYC is good, at least to reduce the risk of identify theft, money laundering, financial fraud, and the financing of criminal organizations. KYC helps manage risks and helps to understand customer behaviors. Projects asking for KYC meant well for all participants, and it shows the determination of the project team to deliver a successful campaign.

[Renampun]

yes..

...

In my own little way, KYC must suppose to be applicable only for the investors who will join in every project ico.
But for the bounty hunters, it shouldn't apply, because they're the main reason why the project become successful most of the time.

That's right, I support that hunters shouldn't need to do KYC...
investors are those who are generally directly involved with the project, only they who must do KYC.

[Renampun]

del

[Senin]

Do not forget that KYC should be carried out only for the purpose of preventing money laundering and combating the financing of terrorism. Bounty hunters, participating in bounty campaigns, do not invest their money and therefore it is illegal to apply KYC to them.
In addition, most ICO teams are not able to ensure the security of storage of collected confidential information and generally do not know what to do with it next, where and how to store it. It is very dangerous. Only government agencies should have the right to collect such information; various temporary teams should not have this right.